Blasting off, Team Bidenharris hoping to win back the white house from President Trump and Vice President pence, job creation, clean energy, Social Security and medicare protection s all on the docket as well as tax hikes for the rich and on large corporations. Our allstar panel will duke it out, and react. And in his first interview since joe bidens acceptance speech last night, Billionaire Hedge Fund giant and democratic fundraiser mark lazzry is here is he ready to pay more taxes under a Biden Harris Administration and why he says, centrists should not fear a bidenharris ticket and by the way, well forgive mark because hes really celebrating today hes the owner of the Milwaukee Bucks. They won last night, and well ask him about the nba bubble versus Major League Baseball cancellation culture, as well as yet another game getting postponed due to covid19. Tesla election trish regan fridaying its way past one of the biggest names in stocks the company now being called the new apple, as the markets reigning mvp begins to look more like a goat, yeah, greatest of alltime. Were less than an hour to the closing bell lets start the claman countdown. And we begin with this breaking news. Just so you know, full house star Lori Loughlin has just been sentenced to two months in prison for her role in the College Admissions bribery scheme, named operation varsity blues. She will also pay a 150,000 fine, and perform 100 hours of community service. Earlier today, her luxuries, the fashion designer, was sentenced to five months in prison, two years of supervised release and a 250,000 fine, 250 hours of community service. He has to surrender for his sentence on november 19 but both are accused of lying and trying to get their and paying to get their two daughters into usc those daughters are no longer attending usc. Need to tell you we are t58 minutes before your last chance to get in on tesla before the five for one stock split. It seems there is no stopping the electric vehicle giant surging again in this final hour look at this gain up 4. 5 , pushing even higher above the 2,000 per share level stands at 2,089. While the Companies Already the most valuable auto maker in the world, more than, really . Volkswagen, porsche, the whole thing now has a higher market cap than walmart. Taking a look at teslas biggest competitors were talking about nikla and workhorse. Those names are a mixed picture, with 2. 7 weve got nikla down 3. 9 workhorse losing 1. 5 to pharma giant pfizer, they say their covid19 vaccine is on track for regulatory review as early as october. Companies announcing positive results for the phase i trial of their second vaccine candidate, thats showing fewer side effect s than the first. Shares of both Companies Moving higher really getting the big jump here about 9. 9 higher, pfizer up half a percent. And super hot chipmaker nvidia surging to an alltime high, just sizzling on a bullish note from jefferies which raised its price target to 570 a share, were at 504 right now up 4 , and analysts mark lip acides says the chip giant will continue to surprise to the upside and could become the apple of the Data Center World shares as you see , just continuing to spike off the highs of the session though, but look at the markets. Look s p at a record, nasdac at a record, no wonder the markets are moving higher in this final hour because from the looks of the u. S. Data out today, stocks are sailing under blue skies did you see the ihs market pmi, the purchasing Managers Index gives us an indication of the health and Manufacturing Sector boy it definitely looked healthy beating expectations at 53. 6 in august versus 50. 9 in july and flip it to existing home sales seeing a crazy surge in july. Jumping 24. 7 month over month, with a back drop of low Interest Rates and high demand for more Square Footage during the pandemic this is the highest rate since december got to go all the way back to 2006 during the housing bubble. But if you broaden the picture and we need to tell you, because we want to give you all the news , the ihs market eurozone composite pmi also out today, fell to a twomonth low of 51. 6 from 54. 9 in july and yesterdays weekly initial jobless claims here in the u. S. , these are the new applicants for unemployment, didnt get much attention but they did jump back above 1 billion last week. Let us get to the one of the Top Economists in the world who says beware the economy is premature ly losing steam. The man himself is here with us right now, of olion. We just presented this war shack test of data. You see something others might not. Whats driving your interpretation of a premature leveling off of the recovery . So as much as i welcome the strong housing market, the strong pmi market data that you mentioned and these are really important developments i worry about the labor market. I worry about workers and i worry about their ability to continue to power consumption and like i say we saw an increase to over 1 million in jobless claims thats a worry and then look at europe like you pointed out the pmi have already come down so i worry that the Global Economy is not just leveling off. Its starting to prematurely come down and we need a much stronger recovery. Liz is part of your thesis the fact that europe seemed to have gotten hit by covid first and then seemed to have recovered more quickly than the United States so are you looking at them sort of as canar y in the coal mine because right now what were ses starting to spike in certain areas of europe once again. Youre absolutely right. We all praised germany for getting a handle on the virus, and for having an economy that reopened in a healthy manner. Guess what they are now seeing cases at levels not seen since april so this is going to be a marathon, until we have the vaccine distributed until we have heard immunity, its going to be a marathon and on the one hand you have the real economy plotting along in the marathon and you have the markets sprint ing forward in a really impressive way. Liz okay, then we do have to ask about the how do you sort of brace for impact if you do expect there will be impact . A, do you, after record highs, which we are about to see , weve got about 53 minutes left of trade. Give me a sense of what youre seeing for the basic market which is seem to somewhat differ from the economy itself. So the good news, if youre an investor is that this is a market that has very good technicals. What do i mean by that . It continues to attract more money into it especially from the results sector and it is confident that Central Banks are a back stop. So the good news is you have very strong technicals that need a major shop to be derailed this thing go on for a while as weve seen and that is good and i admire all those people betting on that; however like a surfer in the ocean, a wonderful wave, youve got to recognize that at some point you need a hand off that otherwise this wave breaks and that is fundamental and what i tell people is bet on the technicals but make sure you understand what it takes to keep this going make sure you know what indicators look at to reassure you that the technicals are strong and at some point maybe later on we can talk about what that means, does it mean going to the auction market looking what derivatives are doing and we have some people doing that really well. Liz okay. Guide our viewers. Do you feel that they should be in certain stocks, or different Financial Engineering opportunities that you see out there that might not be just a traditional equity play. So i tell people, if youre on with very strong Balance Sheet and positive cash flow, apple, microsoft, then make sure you can stomach volatility going ahead, but these are companies that are fundamentally sound with both resilience and agility and thats what you need in this environment. You need both. If, however, youre starting to stretch really far, to bigger things that dont have either of these things, dont do that. Wait. Because wait the price is well addressed at some point to allow you to pickup those companies so be much more bifurcated in how you address the stock market. Liz always good advice thank you very much. He sees a little bit of a premature slowing down on the economy folks, so we can be excited about records from a daytoday basis but just be cautious. Good to see you thank you so much as always. Thank you. Liz all right, youre welcome. Slap some lipstick on that stock with the closing bell ringing in 50 minutes, dow is up 213, beauty giant estee ladder making a comeback after yesterdays selloff triggered by an earnings disappointment so whats driving that today a 4. 5 gain well an upgrade from msnbc to overweight from equal weight on the longer term potential of the name behind clinique, they got pretty shares today, and democratic president ial nominee joe biden made many broad promises during his Democratic NationalConvention Speech last night. Will they be enough to move undecided centrists and undecided republicans to pick the former vp over President Trump. Our expert panel about to duke it out the claman countdown is coming right back, s p and nasdac you guys could witness two records in just a few moment s. Together we can and will rebuild our economy, and when we do, well not only build back, well build back better, with modern roads, bridges, highway, broadband, ports and airports, as a new foundation for economic growth. Liz joe biden capping off the final night of the virtual Democratic National convention by officially accepting his parties nomination for president he outlined multiple economic pledges you just heard some of them but also included a promise to create 5 million new manufacturing and tech jobs. But did he give enough detail to convince centrists and undecided republicans to our Political Panel joining me former by phone former Virginia Republican congresswoman and baker donald son Senior AdvisorBarbara Comstock and democratic strategist richard goodstein. Richard ill begin with you a lot was riding on this speech. Rate the swaying powder, power rather of his speech to bring undecided to his side. I think it wasnt just the one speech although it was powerful it was the whole week where he had one prominent republican after another come out and endorse him. Think about it with the possible exception of bob dole theres not a living republican president ial candidate or spouse who is supporting donald trump for reelection and theres a reason for tha. I think that people bought the con as both Mike Bloomberg and marco rubio called it in 2016 and now they realize that affects their life, not just coronavirus but the economy. Look if you like the bill clinton economy, i think was the joe biden message, youll love what were going to have under joe biden, the restoration , look 22 million new jobs under clintons ideas and billbacked america is not just talk. Theres substance to it. Obviously a speech like last night you cant get through all out it. Theres a reason the Business Roundtable ceos talked about dealing with the whole economy not just profit and i think thats what biden was talking about. Liz congresswoman comstock, as a republican, were you swayed well i think what joe biden did was smart last night. Hes really running on personality and didnt have specifics on the economy so i think he has rejected through the warren and Bernie Sanders populous assault on technology and businesses in general, but instead he talks about things that are smart for him because the strongest place for President Trump is economic policy. I know as a candidate the actual policies when you took the trump name off of them were much more popular than the personality and unfortunately for the president his personality, the toxic personality which has caused some of the republicans you saw this week, as well as the democrats the focus on his personality, thats where the democrats are going to advance and dealing with the crisis of the pandemic and racial things but on the economy, joe biden should pray for a Republican Congress so that they keep this economy going well as we get through the pandemic. You look at today, the nasdac hitting highs our great Tech Companies that should not be broken up that i do work with them and we are trying to keep them from doing that but this economy is joe biden should not be taking it apart it was smart of them not to talk about those left wing aoctype policies that would do that. Liz richard . What about that . The details, we heard the broad strokes, but beyond talking about making the wets it pay their fair share, what is the plan to pay for what he talked about . 5 million new jobs, technology, you know, paying essential workers better well we all want to pay essential workers better but where does that money come from . Again, liz, we heard a similar criticism when bill clinton rolled out his economic policy. I know it seems like ancient history it wasnt that long ago, and every senior republican said this will lead to the worst recession ever and it actually led to the biggest boom in job creation ever, so this notion that raising taxes and i think what biden is talking about is skewing it so that it helps the middle classless so as Mike Bloomberg says guys like me. You know, guys like him who dont really need it, and the corporations are doing great i will say that i think what youll hear from a lot of democrats is this notion that trump has the greatest economy of alltime is a utter miss. If you look at gdp growth, there are countless administrations, fdrs was three or four times higher, jfk was two times higher. Bill clintons was much much higher so its a myth and a lot of people who watch Certain Networks buy it. Its just not true and people realize in their own lives its not true. Liz barbara that is one thing that the president has to wrap his arms around i would think because two weeks after the lockdowns, you had millions of people joining the unemployment ranks, so when the president says its the greatest economy ever, these are people who didnt have beyond two weeks of savings, once they lost their jobs, before they had to jump to unemployment benefits. Well youre right and thats why it was so important to get the bills sign the that actually were bipartisan, unfortunately, congress has gone home now and hasnt passed another bill, and i think people want to see that happen but i can tell you, i ran five elections during the obama years , against the tax raising increased regulation policies of the obama years, and they were not popular in suburbia. Now i did lose an election largely on the trump personality , not the policies so i think if think stick with the economic policies that are working and go back to them, strengthen the middle class, and not bring, you can not have this tough economy we have right now and start laying taxes on businesses trying to get back on their feet, on families that are trying to cope and dealing with education challenges, so large tax increases that are actually in the fine print of the democratic policies, be disastrous, coming out of this postpandemic and i havent heard anybody talk about on the democrat side, some new creative policies that really look at the 21st century economy and thats what we need to see from both parties. Liz well the time for tax cuts is during bad times, richard, is it not and by the way i do want to get to Kamala Harris his wing woman that he has picked, and why, you know, why she is the one to help him get the centrists not to fear the business and economic policies that maybe coming. Right so Kamala Harris i think is positioned exactly right, nationally and certainly in the democratic party. Shes progressive but not too much. She certainly was very friendly with the tech sector, but shes also shown her ability to stand up to big businesses and big industries, if theres a broader Public Policy interest at stake, and i will just say one thing. The employees of the tech sector will love biden and harris because they will probably restore the state and local Tax Deduction and also with chaina they will approach things in a multilateral way not this bilateral tariff on everything approach thats been a failure. Liz okay i just want to say whats on the screen barbara. Necessary all sandberg of facebook, brad smith, microsoft president , and linkedin founder, of course, the widow of steve jobs, and these are billionaires who have supported Kamala Harris , but you have a different view of her, and how tech views her. Well, i think the challenger right now is that you have democrats in congress who are attacking these tech success stories. I represented an area that was both a lot of small Tech Companies and big Tech Companies and they worked on a bipartisan basis. Look whose gotten us through this pandemic, so that we can work, so that we can have our conventions and we have tele health educating our kids, so we dont need to be doing what congress and actually joe biden did say we should break up these companies. They should not be doing that unfortunately, some on the right are talking at that too, so thats why im tal